For some time now INTERTANKO has been producing model vetting clauses for both time and voyage charter parties. These have been amended on a regular basis as circumstances change and they have proved to be successful and of immense value to our members.

They are aimed at helping members avoid the difficulties they could encounter after having agreed to a strong charterer’s vetting clause that requires the owner to maintain “approvals” by either several named oil companies or in some cases “all” oil companies. In recent years we have seen oil companies avoid issuing “approvals”, and thus it has become extremely difficult, or even impossible, to comply with such onerous charterers’ clauses.

INTERTANKO’s Vetting Committee therefore formed a small Working Group to address this issue, with assistance from INTERTANKO’s Documentary Committee and Technical Tanker Committee.

The outcome of this Working Group’s work is a booklet entitled ‘Vetting Clauses – A Practical Guide’, which we hope will offer useful help and advice to all our members, whether they wear an owner’s or a charterer’s hat.

In this booklet we highlight the pros and cons of each vetting clause using a selection of vetting clauses that exist today. We conclude by offering some guidelines on warranty clauses with particular regard to:

·a hardship clause if it is not possible to appoint an inspector or an inspection is not possible;

·reasonable time frames to allow the inspection to take place;

·suitable non-fulfilment elements to protect the charterer.

In conclusion, the aim of this booklet is to make the reader aware of the alternatives that exist and to understand the responsibilities and risks involved in the drafting and acceptance of a vetting clause, as well as the benefits that can be derived from a clause that meets specific requirements.

If you have any questions regarding this publication, please phone Sally Woulfe in our London office +44 20 977 7022 or Petter Markussen in our Oslo office +47 22 12 26 40, who will be happy to help you.